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South Bend Redevelopment Commission <br />Regular Meeting -August 6, 2010 <br />6. NEW BUSINESS (CONT.) <br />B. Airport Economic Development Area <br />(7) continued... <br />appraisals we ordered on this property did us <br />virtually no good. We either need to give <br />instructions to the appraisers that beyond <br />your typical appraisal report, we want one or <br />more of these other methods used. The <br />appraisals may cost us more, but they would <br />give us more valuable information on which <br />to make our offer. <br />Ms. Jones noted that, not only are the <br />appraisals we've been getting doing us not <br />good, they are doing us harm. The result is <br />that we use too much subjectivity in coming <br />up with a settlement. That is a bad <br />precedent. She would be happy to pay more <br />for the appraisal if we could rely more on the <br />valuation. <br />Upon a motion by Mr. Downes, seconded by <br />Mr. Vainer and unanimously can-ied, the <br />Commission approved the Administrative <br />Settlement of 565.000 for 1507 S. Tavlor <br />Street. <br />(8) Resolution No. 2741 related to acquisition <br />of propert~~ at 807 ~~'. Indiana Avenue. <br />(Hell's Angels) <br />Mr. Relos noted that 807 W. Indiana was <br />added to the Acquisition List by Resolution <br />No. ?668 on May 21, ?010. The property <br />consists of a two story house that over the <br />years has been added on to and com-erted to <br />a bar. It now contains a private club, with <br />the interior build out consisting of a lounge <br />area. bar• kitchen, bath room, and storage <br />COMMISSION APPROVED THE ADMINISTRATIVE <br />SETTLEMENT OF $65,000 FOR ISO7 S. TAYLOR <br />STREET <br />18 <br />